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Buhari, Kyari woo petroleum investors in Spain
The Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited, Mallam Mele Kyari has reiterated his commitment to sustain the strategic energy partnership between Nigeria and Spain. Mallam Kyari who is also the Group Managing Director of the…
Why OPEC+’s quota boost has no pull on prices
Sopuruchi Onwuka The decision by world petroleum market factor, the Organization of Petroleum Exporting Countries (OPEC) to boost nominal production by 648,000 barrels per day addressed the concerns of industrial economies but failed to shot down prices. Market sources on…
‘Deteroriating economic outlook pose risk transmission to banks’
Credit rating agency, Fitch Ratings, has declared in a new report Nigerian banks face potential global risk transmission, explaining that operating environments could deteriorate between now and 2023. Fitch said adverse global macroeconomic conditions are already affecting the Nigerian economy,…
Russia seeks new buyers after EU sanctions to cut oil imports
The government of Vladimir Putin of Russia has declared intention to divert its crude oil shipments to other countries after major customers in the European Union voted to drastically cut imports from the country. Russia is also cutting off more…
Economic powers declare support for APEC
Representatives of seven nations, including those who walked out of an Asia-Pacific trade ministers meeting in Bangkok to protest Russia’s invasion of Ukraine, said on Sunday they support the organization and host nation Thailand. Representatives of the United States, Australia,…
NNPC to begin AKK pipeline gas delivery by March, 2023
The Board of the Nigerian National Petroleum Company Limited (NNPC) has expressed satisfaction with the progress of work done on the Ajaokuta-Kaduna-Kano (AKK) Gas Pipeline Project and believed that the first Quarter 2023 target for delivering it will be met….
IOC divestment opens new investment opportunities – Wabote
The ongoing disruptions in the international energy industry present a unique opportunity for the Nigerian oil and gas industry to attract new set of investments and serve as one of the leading production hubs to meet global energy needs. The…
Russian war: EU forays Nigeria, OPEC for new oil and gas supply
Sopuruchi Onwuka With the coordinated Western response against the war in Ukraine, diplomats are mounting pressure on key petroleum producing countries to create new channels of supplies to the European countries which traditionally form the biggest customers of Russian oil…
Strong oil prices to accelerate Nigeria’s economic recovery _OPEC
Inflation remains a challenge Sopuruchi Onwuka Nigerian economy which is currently suffering galloping inflation, high unemployment rate and harsh business environment will find relief from anticipated investments in the hydrocarbon industry and improved oil revenue within the year. The Organization…
Chevron wins FIRS tax awards, denies blocking gas to NLNG
Local affiliates of Chevron Corporation in Nigeria, Chevron Nigeria Limited (CNL) and Star Deep Water Petroleum Limited (STAR), have both been honoured by the Federal Inland Revenue Service (FIRS) with top tax compliant organization awards. Corporate spokesman for Nigeria, Mr…
